Sun Protection Products Global Market Size, Share, Demand, Growth, Opportunities, Analysis of Top Key Player and Forecast to 2024

Global Sun Protection Products Market Outlook
Market Overview

Rising awareness among consumers towards the importance of sun protection products and introduction of new skin protection products with more effective formulation are the key factors driving the growth of global sun protection products market. Excessive emission of green house gases and deforestation lead to the depletion of ozone layer. Exposure to UV radiations is the major reason behind premature aging of skin and can also lead to skin cancer. According to the reports of WHO, further decrease in stratospheric ozone by 10% can lead to additional 300,000 victims of non-melanoma and 4,500 additional cases of melanoma cancer across the globe annually. Thus, sun care products became vital products for the consumers to protect their skin from harmful effects of UV radiations. To deal with the rising concerns, sun protection products like lotions, creams, gels and beauty balms are launched into the market with varying SPF levels for different skin types and consumer requirements. Beauty products market effectively dominating the global industry, accounting for growth in total global sales by 100% over past 15 years and accounted USD 450 billion. Skin care products and hair care products are the major segments of the beauty products market, worth more than USD 100 billion in 2015. Wide range of sun protection products with rise in benefits such as SPF protection which results in consumers adoption of sun care products with multi-benefit skin care and beauty cosmetics offerings for daily use. Advanced formulations and higher perceived value for money, made these products popular among consumers, which is expected to propel the growth of global sun protection products market. In order to meet consumers demand, companies and manufacturers are looking for innovative formulations to increase their revenue. Happy Skin, a cosmetic brand, has launched its UV gel cream in Philippines, a water based gel with moringa seed oil Protects skin against dirt, pollution and UV rays.

Market Segmentation

• By Product Type
o UV Protection Products
o After-sun Products
o Self-tanning Products

• By Body Parts
o Skincare Products
o Haircare Products

• By Product Forms
o Sun Protection Gel
o Sun Protection Lotions
o Sun Protection Wipes
o Sun Protection Spray
o Sun Protection Colored
o Sun Protection Powder

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• By End User
o Men Care products
o Women Care Products

• By Geography
o North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion) }
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion) }
o Rest of the World{Market Share (%), Market Size (USD Billion) }

Growth Drivers and Restraints

Being niche segment of the beauty care products, sun care consumers spend over USD 8.0 billion on sun care products in 2015 across the globe, but in terms of sales of beauty products, it only account for 2% market share of total beauty and personal care products market and less than 10% market share of total skin care products. Rising awareness among the population in growing economies such as India, China, Brazil, Russia, Canada and others are fostering the growth of global sun protection products market. In 2015, Latin-America witnessed double digit growth of nearly 20% and the sun protection products market has been making roads in the money-spinning Asia-Pacific market. On the other hand, North America and Europe witnessed change in growth rate pattern for instance, 2% decline in North America and 0.5% growth in Western Europe, indicating shifting of consumers to other categories such as BB (Beauty Balm) creams. Sun care protection registered overall growth of 5.4% in 2015 owing to growing sales of BB creams in North America and Western Europe. UV protection products expected to remain the largest segment, with nearly 90% of total sun protection products sales over the forecast period. Implementation of nanotechnology in sun care products to give better protection from UV rays and to provide smoother texture to the product when applied to skin. L'Oreal and Shiseido are using are some of the beauty products giants in the global market using nano-particles in their beauty products. However, seasonal climatic changes and wide range of alternatives expected to impact the sales of sun protection products across the globe. Manufacturers are focusing on development of multi-beneficial products and BB creams to sustain the market competition. UV filters are the basic ingredients to meet the consumers rising demand of higher protection from UV radiation. Among all UV filters, homosalate is anticipated to be the fastest growing in Western Europe over the forecast period, followed by zinc oxide.
Market Size and Forecast (2016-2024)

Sun protection products expected to expand at a compound annual growth rate of 6.8% over the forecast period owing to rising demand for multifunctional skin care products. The global sun protection products market grew by 2.5% and reached USD 8.3 billion in 2015 and further the market is expected to reach USD 14.1 billion by 2024.

In 2015, Europe was the leading region, and expected to dominate the market by 2024. Latin-America is expected to contribute over USD 2.8 billion to sun care market by 2024. Brazil is anticipated to be the largest contributor in the region with over 90% growth to the sun protection category. Moreover, Asia-Pacific is expected to narrow down the gap with Western Europe from USD 0.80 billion to under USD 0.30 billion, with prospect of overtaking the market over the forecast period.

Key Market Players
• L'Oreal S.A
o Synopsis
o Business strategy
o Product Portfolio
o SWOT Analysis
• Pioneer Corporation
• Shiseido Co. Ltd.
• Lancaster
• Johnson and Johnson
• Clarins Group
• Neutrogena Corporation
• Lancaster
• Beiersdorf AG
• Unilever PLC
• Bioderma Laboratories
• Avon Products

Scope Background
Market Synopsis
Market Segmentation

The global sun protection products market is segmented as follows:
• By Product Type (Market Size, Demand Analysis and Growth Analysis)
• By Product Forms Type (Market Size, Demand Analysis and Growth Analysis)
• By Body Parts Type (Market Size, Demand Analysis and Growth Analysis)
• By End User Type (Market Size, Demand Analysis and Growth Analysis)

Global Sun Protection Products Market Report covered insights of below mentioned regions:
• North America (U.S., Canada) {Market Size, Growth Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis}
• Rest of World {Market Size, Growth Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities
• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players
• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks

……Continued

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